Borders Strengthens Book Business With Key Merchant Appointments

ANN ARBOR, Mich., Oct. 4 /PRNewswire/ -- Borders Group today announced it is re-energizing its focus on providing a world-class bookselling experience by continuing to invest in a talented merchant team.  The company is welcoming back Kathryn Popoff as Vice President, Merchandising, overseeing the promotion and merchandising of adult trade and bargain books. An 18-year retail industry veteran, she joined Borders Group in 2002 as director of multimedia. She was named Director of Merchandising, Adult Trade Books in 2004, and was promoted in 2007 to Vice President, Merchandising — a post she held until Nov. 2009.

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The company is also announcing additional merchant-related appointments:

• Larry Norton, who formerly served as Senior Vice President, Merchandising will transition into the role of Senior Vice President, Business Development and Publisher Relations. Norton will now concentrate on long-term strategies to strengthen the book sector, including partnering with publishers and eBook provider Kobo to develop digital content with the overall goal of aggressively growing the company's eBook business. He will also work with publishers on initiatives directly related to lowering costs and increasing efficiencies within the supply chain network.

• Children's Merchandising Director Renee Rockwood, a merchant with more than 16 years of experience, will now oversee gifts and stationery, children's toys and games and the company's expansion of adult games and puzzles. In addition, Rockwood will continue to manage the merchandising and promotion of the children's category.

• Borders also recently welcomed 27-year book industry veteran Mike Ferrari as Merchandising Director, Trade Books. Prior to coming to Borders, Ferrari served in a variety of capacities at Barnes & Noble, including Director, Digital Content for Barnes & Noble.com, Director of Merchandising, Divisional Merchandising Director, Senior Buyer and Buyer on the corporate side. Before joining Barnes & Noble, Ferrari was with Waldenbook Company, where he started as an assistant store manager and progressed through a number of merchandising positions. Ferrari will report to Popoff.

• Joanna Goldstein will move into the role of Vice President, Non-Book Merchandising, having previously served as Vice President, Marketing. In her new position, she will oversee the digital device and accessory category as well as calendar, newsstand and multimedia. Goldstein brings several years of experience to her new role having previously directed the merchandising and promotion of many of these categories.

Popoff, Norton, Rockwood and Goldstein will all report to Chief Merchandising Officer Michele Cloutier.

"We recognize that traditional bookselling is a core part of our business and one in which we will continue to invest both talent and resources," said Mike Edwards, CEO of Borders, Inc.  "At the same time we see strong growth potential with key non-book categories like digital, gifts and stationery and toys and games – products that complement our book offerings. I am pleased to have such talented people as Kathryn, Larry, Renee, Mike and Joanna driving our book and non-book merchandising strategies going into the critical holiday shopping season. Under the direction and leadership of our new Chief Merchandising Officer Michele Cloutier, our entire merchant organization is aggressively focused on offering the best product assortment in the industry."

About Borders Group, Inc.

Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these forward-looking statements by the use of words such as "expected," "planning," "possibility," "opportunity," "goal," "will," "may," "intend," "anticipates," "working toward" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address matters such as the company's future financial condition and performance (including earnings per share, profitability, liquidity, cash flows, debt levels, market share growth and other sales information, inventory levels and capital expenditures), its cost reduction initiatives and plans for store closings, and the expansion of product categories, including eBook content and eReaders. These statements are subject to risks and uncertainties that could cause actual results and plans to differ materially from those included in the company's forward-looking statements.

These risks and uncertainties include, but are not limited to, consumer demand for the company's products, particularly during the holiday season, which is believed to be related to general economic and geopolitical conditions, competition and other factors; the availability of adequate capital--including vendor credit--to fund the company's operations and to carry out its strategic plans; adverse litigation results or other claims, the performance of the company's information technology systems, the anticipated impact of our Borders Rewards and Borders Rewards Plus programs; and, with respect to eBook content and eReaders, the availability to the company of anticipated content levels and a variety of competitive devices.

The company's periodic reports filed from time to time with the Securities and Exchange Commission contain more detailed discussions of these and other risk factors that could cause actual results and plans to differ materially from those included in the forward-looking statements, and those discussions are incorporated herein by reference. The company does not undertake any obligation to update forward-looking statements.

SOURCE Borders Group

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